CTA Suspends License for Bankrupt RR in Catastrophe

By NCD on Tue, 08/13/2013 - 5:42pm |

BBC: The Canadian Transportation Agency (CTA) says the company did not have enough third-party liability insurance. (MMA filed for bankruptcy protection in Canada and the United States last week in the wake of the 6 July derailment.) The CTA's order covers both Montreal, Maine and Atlantic Railway (MMA) and its Canadian subsidiary. Forty-seven people were killed in Lac-Megantic after a train carrying crude oil derailed and exploded in the town.

The CTA said MMA did not have adequate third-party liability insurance, one of the requirements to operate Canada.....

I guess if MMA had insurance for leveling Lac-Megantic, there'd be no need for gov't action...call me a tad skeptical of the value of the Canadian Transportation Agency.

URL:

http://www.bbc.co.uk/news/world-us-canada-23686321